Page 156 - RusRPTJan23

The overall progress in the implementation of the Amur Gas Processing Plant (GPP) construction project stands at 87.52%, Gazprom said on December 15 . In particular, pre-commissioning continues on the third process train of the plant and the second unit of helium treatment, liquefaction and packaging, the company said. Installation and pre-commissioning continue at two Ladoga gas pumping units on the plant’s fourth process train. Mounting of the feed gas cooling unit was completed at the fifth process train.
Gazprom suffered an explosion on its Urengoy-Pomary-Uzhgorod pipeline in the region of Chuvashia on December 20, with three people tragically killed in the blast (Interfax). Analysis: Repairs will probably be completed relatively swiftly on the export-oriented pipe. In our experience, explosions on overland high-pressure gas pipelines are typically dramatic, but repairs can often be carried out in a matter of days, assuming no complex equipment such as pumping stations is involved. This pipeline is reportedly dedicated to European gas exports, so Gazprom should not see a drop-off in domestic deliveries, where it has been setting all-time records in recent weeks. European deliveries will also likely be unaffected, given that Gazprom’s exports in that direction are at multi-decade lows, implying that excess bypass capacity should be available for this route.
● Rosneft
The net profit of Russian oil major Rosneft attributable to shareholders amounted to RUB591bn ($9.4bn) in January–September, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on December 7. Revenue increased by 15.7% to 7.202 trillion rubles and capital expenditures rose by 19.3% to 822bn rubles. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 21.8% on the year to 2.014 trillion rubles. The net financial debt/EBITDA ratio amounted 1.1x as of September 30 compared to 1.3x as of January 1. The hydrocarbon output increased by 2.2% to 4.97mn barrels of oil equivalent per day. Gas production rose by 10.6% to 1.16mn barrels of oil equivalent per day. The company processed 71mn tonnes of oil in January–September. Sales of oil products on the Russian market increased by 6.5% to 31.1mn tonnes. CEO Igor Sechin said that the company increased oil supplies to Asia by about a third and fully compensating for the decrease in supplies to Europe.
Russia's oil giant Rosneft said Wednesday its profit over the past nine months had been badly hit by the seizure of its German-based refineries by Berlin. "In 3Q 2022, the most significant negative impact on income came from the transfer of the company's assets in Germany... which resulted in the recognition of an additional loss of RUB56bn (around $889mn)," Rosneft said in a statement. Berlin in September took control of Rosneft's German subsidiaries, which account for about 12% of oil refining capacity in the country, and placed them under the trusteeship of the Federal Network
156 RUSSIA Country Report January 2023 www.intellinews.com